- Vella Finance will offer a new service aimed at Africa.
- Firms using the service will be able to link up via invoicing, payment links and hybrid checkouts.
- “Vella’s sweet spot is our ability to layer regular, traditional finance, which businesses are already familiar with, on top of crypto infrastructures,” said a senior figure at the firm.
Vella Finance, a provider of fast money transfer services in Africa, has confirmed that it will offer a new international money transfer solution for the region.
The firm is a financial technology start-up based in Nigeria. Its new platform, Vella 2.0, comes with various tools, including linking up so-called “TradFi”, or traditional finance, with “DeFi” – or decentralised finance.
It is thought that companies using the service will be able to link up with cryptocurrency rail, as well as Global Pay, which offers hybrid payments for those looking to place direct transfers to recipients worldwide.
Clients will be able to link up via invoicing, payment links and hybrid checkouts.
One particularly distinctive feature of the new service is that customers will be allowed to take payments in coins of various types from across the globe, including local currencies and stable coins.
And the company is also offering access to what it describes as “Vella Boost”, which allows firms to make the most of cash flow opportunities that are, as yet, going unused.
“Our long-term goal at Vella is to become the preferred payment partner for 80% of businesses originating from Africa,” explained Tolu Adedayo, Co-Founder and COO of the firm.
“Vella’s sweet spot is our ability to layer regular, traditional finance, which businesses are already familiar with, on top of crypto infrastructures,” said the firm’s CEO, Mark Afolabi.
“We were first merchants, then small business enablers; we share firsthand experience from a small business owner’s perspective.”
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